Autodesk (NASDAQ:ADSK) Price Target Lowered to $315.00 at Scotiabank

Autodesk (NASDAQ:ADSK) had its target price cut by Scotiabank from $360.00 to $315.00 in a research report released on Monday morning,Benzinga reports. They currently have a sector outperform rating on the software company’s stock.

Several other equities research analysts have also commented on the stock. UBS Group upped their price target on shares of Autodesk from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, February 28th. Mizuho upgraded shares of Autodesk from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $280.00 to $400.00 in a research report on Tuesday, January 28th. KeyCorp upped their price objective on shares of Autodesk from $330.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. HSBC downgraded shares of Autodesk from a “buy” rating to a “hold” rating and set a $290.00 price objective for the company. in a research report on Friday, November 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $325.00 price objective on shares of Autodesk in a research report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $336.29.

Autodesk Price Performance

Shares of ADSK opened at $260.62 on Monday. Autodesk has a 1-year low of $195.32 and a 1-year high of $326.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $55.51 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. The company’s fifty day moving average price is $288.10 and its 200-day moving average price is $287.82.

Institutional Trading of Autodesk

A number of hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its stake in shares of Autodesk by 406.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,875,320 shares of the software company’s stock valued at $849,858,000 after buying an additional 2,307,960 shares during the period. Norges Bank purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $632,566,000. Starboard Value LP purchased a new stake in shares of Autodesk in the 3rd quarter valued at approximately $510,189,000. Farallon Capital Management LLC purchased a new stake in shares of Autodesk in the 4th quarter valued at approximately $544,381,000. Finally, Janus Henderson Group PLC grew its stake in shares of Autodesk by 43.7% in the 4th quarter. Janus Henderson Group PLC now owns 2,206,237 shares of the software company’s stock valued at $652,127,000 after buying an additional 670,699 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Autodesk Company Profile

Autodesk, Inc provides 3D design, engineering, and entertainment technology solutions worldwide. The company offers AutoCAD Civil 3D, a surveying, design, analysis, and documentation solution for civil engineering, including land development, transportation, and environmental projects; BuildingConnected, a SaaS preconstruction solution; AutoCAD, a software for professional design, drafting, detailing, and visualization; AutoCAD LT, a drafting and detailing software; computer-aided manufacturing (CAM) software for computer numeric control machining, inspection, and modelling for manufacturing; Fusion 360, a 3D CAD, CAM, and computer-aided engineering tool; and Industry Collections tools for professionals in architecture, engineering and construction, product design and manufacturing, and media and entertainment collection industries.